When it comes to investing in health, we are a little careless and we are not able to use services like health insurance when needed. For those who cannot afford much, today we have come up with the 10 cheapest Medical insurance plans. You can check all these plans and compare them with other plans so that you can understand their budget.
Why do you Need the Cheapest Medical Insurance?
Medical or Health insurance is the cheapest or most expensive, it can help us with all the critical problems related to our health. Those people who are financially weak cannot afford the expensive plan, so there is a need for the cheapest health insurance for those people.
These budget and cheap health insurance are similar to expensive health insurance, but the coverage is slightly less in cheap health insurance. Health insurance taken in your budget can prove to be helpful to a great extent in your emergency and can save the cost of your accumulated capital.
Cheapest Medical Insurance in India
It is very important for you to take medical insurance, you can take this insurance by registering in the schemes issued by the government or from a private company at a very nominal cost. Let us now know which is the cheapest medical insurance that can be a better option for you.
The Cheapest Medical Insurance plans issued by the government are as follows:
1. Ayushman Health Insurance Scheme
This scheme was implemented by the state government on 30 January 2021. This scheme has been made keeping in mind universal health coverage. The main objective of the scheme is to provide better healthcare to the people and also a health insurance scheme for the people who come below the poverty line. It is giving insurance cover up to Rs.5 lakh to the people. Its special thing is that you do not need to register for separate insurance for other members of the household, but with one insurance you can get your family treated free of cost under Ayushman Health Insurance.
2. Pradhan Mantri Suraksha Bima Yojana
This scheme was implemented in India in 2016 and can be availed by people in the age group of 18 to 70 years. You must have a bank account for this plan as the account will automatically be auto-debited for an annual premium of Rs.12. In this scheme, you also get an annual policy cover of 2 lakhs. Provides you with risk coverage of up to ₹ 2 lahks for accidental death and ₹ 1 lakh for partial disability.
Private health insurance which gives more coverage and also you get it at a cheaper price are as follows:
1. SBI General health insurance
SBI General Health Insurance provides coverage primarily for hospitalization. By taking this plan through one member of the family, you can include the whole family in this plan. In this, you get medical coverage ranging from 50 thousand to 5 lakh. The amount of premium for this insurance comes to a minimum of 588 pounds per month, which is one of the cheapest medical insurance.
This insurance includes more than 5000 hospitals that provide you with facilities like cashless treatment. You get coverage of free health checkups of 2.5K in this. For this free medical coverage, you must have completed the insurance policy term of 4 years. You can get the facility of tax benefits by taking this insurance plan.
Note: The premium amount can be higher if other benefits are added to SBI General health insurance and a person of 70 years will be eligible to join the plan only after the checkup process.
2. ICIC Lombard Health Insurance
ICICI Lombard Health Insurance is a comprehensive health plan that comes with different plans for an individual, couple, or family. With this scheme, you can get cashless cover ranging from 50 thousand to 5 lakh. This cover is different for different reasons like Complete Health Cover 5 Lakh, Arogya Sanjeevani Cover 1 Lakh to 5 Lakh, and Corona Cover 50 thousand to 5 Lakh.
ICIC Lombard Health Insurance gives you access to more than 5,000 hospitals, in which cashless medical treatment is available at 4,252 hospitals. You also get income tax benefits under 80D in this. People of any age can join this insurance plan.
3. Aditya Birla Active Assure Diamond Insurance
Under this plan, you get a daycare insurance coverage of 586, which you will get to see in more than 10,000 hospitals. The premium amount for the Aditya Birla Active Assure Diamond plan starts from Rs.595 per month with up to 90% hospital coverage.
Papco Ayush treatment, Yoga, Ayurvedic, Homeopathic, and Unani treatment are also included in this insurance plan. It also provides pre & post hospitalization facilities along with 100% ambulance cover.
4. Bharti AXA Smart Health Assure Insurance
In this insurance plan, you get the facility of medical treatment only after 30 days, but the facility of critical care starts after 3 years of taking the premium. Under the Bharti AXA Smart Health Assure plan, you get insurance coverage ranging from 2 lakh to 60 lakh, which includes 60 days of pre-hospitalization and 90 days of post-hospitalization.
Under Bharti AXA Smart Health Assure Insurance Plan, you get a benefit of up to 25 thousand in tax under 80D. The cashless facility at more than 4 thousand hospitals across India is also included in this plan.
5. HDFC ERGO Health Suraksha Insurance
- This insurance facility gives you an insurance cover of 2 to 5 lakhs, as well as you get the facility of 60 days pre and 90 days post hospitalization.
- Under this policy, you get the facility of 144 days of care.
- If you do not take insurance coverage for 4 years, then you also get the facility of free medical checkups, which gives the facility of tests up to a maximum of 5 thousand rupees.
- You get free ambulance service for up to 2 thousand at the time of hospitalization.
Is it safe to buy Cheapest Medical Insurance?
If you are unable to take health insurance with large coverage, then you can take these cheapest health insurance plans. All these plans give you basic coverage along with pre and post hospitalization facilities at affordable rates. You get all these plans for 7000 rupees only. If you can spend more on health, then you can choose a better health plan.
How to get the cheapest medical insurance?
Many companies offer you health insurance plans in the market, but you should select the policy with the best coverage at low rates. Keep in mind, take the policy only from that company which, along with being genuine, also includes the facility of family protection. You can also apply through an insurance agent or online to get health insurance. For online applications, go to the official website of that company.
Is 5 lakh enough for Medical Insurance?
It is very important to have health insurance up to 5 lakhs for you and your family. In the health insurance scheme of less than 5 thousand, you do not get treatment at the time of critical care.
